https://www.taxtmi.com/caselaws?id=1899 Chapter XIV-B provides a special block assessment regime for search cases, separate from regular assessment, and Section 158-BB sets out the method for computing undisclosed income for the block period. Under Section 158-BB(4), brought forward business loss and unabsorbed depreciation cannot be set off against undisclosed income determined in block assessment, although they may remain available for adjustment in regular assessment. The statutory scheme therefore excludes aggregation of such losses or depreciation within the block computation, and the claimed set-off was not permissible. en-us Mon, 12 Mar 2007 00:00:00 +0530 Sun, 08 May 2011 14:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=1899 Chapter XIV-B provides a special block assessment regime for search cases, separate from regular assessment, and Section 158-BB sets out the method for computing undisclosed income for the block period. Under Section 158-BB(4), brought forward business loss and unabsorbed depreciation cannot be set off against undisclosed income determined in block assessment, although they may remain available for adjustment in regular assessment. The statutory scheme therefore excludes aggregation of such losses or depreciation within the block computation, and the claimed set-off was not permissible. Case-Laws Income Tax Mon, 12 Mar 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=1899